Name of the Organization : Tax Saver
Type of Facility : Employees Registration
Country : Ireland
Website : http://www.taxsaver.ie/Employers/
Employees Registration :
How Taxsaver works :
Your employees can achieve significant savings on the cost of commuting when they receive their Annual or Monthly ticket as part of their remuneration package.
Related : Department of Transport Motor Tax/Vehicle Registration Ireland : www.statusin.org/10076.html
This system benefits everyone as your company will also save 10.75% on Employer PRSI when you make this deduction from salary payments. There are several ways you can assist your employees in receiving a Taxsaver Ticket
Salary sacrifice:
Employees can reduce their gross salary by the cost of their chosen ticket and will therefore reduce the taxable element of their salary:
In place of a cash bonus :
Deduct the cost of the ticket from their bonus.
Addition to salary :
Provide the ticket as an addition to their current salary.
Employee Benefits:
Your employees can make significant tax and PRSI savings when they receive their Annual or Monthly ticket as part of their remuneration package.
Savings of up to 41% tax, 7% USC and 4% PRSI can be made on the cost of the ticket.
An Annual Dublin Bus & Irish Rail ticket covering the entire Dublin Bus and Irish Rail network between Balbriggan, Maynooth, Hazelhatch and Kilcoole costing €1710 will only cost your employee €571.20, saving them €618.80.
Revenue terms and conditions:
** There must be a bone fide and enforceable alteration to the terms and conditions of employment (exercising a choice of benefit instead of salary).
** The alteration must not be retrospective and must be evidenced in writing. A sample alteration form is available to download
** There must be no entitlement to exchange the benefit for cash.
** The choice exercised (i.e. benefit instead of cash) cannot be made more frequently than once a year and then only with the consent of the employer.
Registration:
Read the Revenue terms and conditions:
** Register your company here and when you receive your account number you are ready to order.
** Please note that Direct Debit registrations can take up to 3 weeks for Banks to set up.
** Employees should familiarise themselves with the choice available and select the most suitable ticket.
** Each taxsaver commuter ticket holder will require the appropriate Photo Identification.
** Each employee must complete a written change to the terms and conditions of their employment when salary sacrifice deductions are to be made. Please click here for sample Annual Employee agreement form.
How to order:
Once you have registered your company details and received your log on and pass word then you are ready to order Taxsaver tickets.
You will receive your on-line ordering instructions with log on and password by email.
For assistance with your on-line ticket order contact the Taxsaver:
helpline on 1850211777 or email
taxsaver AT buseireann.ie taxsaver AT dublinbus.ie taxsaver AT irishrail.ie
(Phone line is open from 9.00am to 5.00pm, Monday to Friday).